Post by jeffolie on Jul 20, 2012 10:01:57 GMT -6
JPMorganChase raised electric bills
Easy to relate to, dumb it down ... every electric bill cost more because JChase raised your bill ... most see Chase banks not JPMorganChase trading platforms
Gold manipulation by market controls from short selling is above the understanding of the common American who can not easily relate to suppressing the price of metals by the use of massive short sales including the incomprehensible metals derivatives and do not own them. The opposite is true ... one way or another they paid their electric bill.
Manipulation of California energy market gives consumers a jolt
The next time your electricity bill prompts you to curse your local utility, here's another target where you should direct your anger: JPMorgan Chase & Co., which has manipulated the California energy market for its own profit and at a cost to residents and businesses in the state that could be $100 million, $200 million or much more.
That's the accusation leveled by the California Independent System Operator, which has jurisdiction over 80% of the state's electrical transmission. The ISO, a nonprofit corporation controlled by the state government, estimates that JPMorgan may have gamed the state's power market for $57 million in improper payments over six months in 2010 and 2011.
But that could be just the tip of the iceberg: The bank continued its activities past that time frame, according to the ISO. It also says JPMorgan's alleged manipulation could have helped throw the entire energy market out of whack, imposing what could be incalculable costs on ratepayers.
This rather longish story showed up in the L.A. Times on Wednesday
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articles.latimes.com/2012/jul/18/business/la-fi-hiltzik-20120718
Easy to relate to, dumb it down ... every electric bill cost more because JChase raised your bill ... most see Chase banks not JPMorganChase trading platforms
Gold manipulation by market controls from short selling is above the understanding of the common American who can not easily relate to suppressing the price of metals by the use of massive short sales including the incomprehensible metals derivatives and do not own them. The opposite is true ... one way or another they paid their electric bill.
Manipulation of California energy market gives consumers a jolt
The next time your electricity bill prompts you to curse your local utility, here's another target where you should direct your anger: JPMorgan Chase & Co., which has manipulated the California energy market for its own profit and at a cost to residents and businesses in the state that could be $100 million, $200 million or much more.
That's the accusation leveled by the California Independent System Operator, which has jurisdiction over 80% of the state's electrical transmission. The ISO, a nonprofit corporation controlled by the state government, estimates that JPMorgan may have gamed the state's power market for $57 million in improper payments over six months in 2010 and 2011.
But that could be just the tip of the iceberg: The bank continued its activities past that time frame, according to the ISO. It also says JPMorgan's alleged manipulation could have helped throw the entire energy market out of whack, imposing what could be incalculable costs on ratepayers.
This rather longish story showed up in the L.A. Times on Wednesday
==============================
articles.latimes.com/2012/jul/18/business/la-fi-hiltzik-20120718